“Affirmed that terrorism and its financing, in all forms and manifestations, continues to constitute one of the most serious threats to international peace and security and that any acts of terrorism and its financing are criminal and unjustifiable regardless of their motivations, whenever and by whomsoever committed, and called for listings and de-listings under these sanction regimes to be done in an objective manner, based on evidence and free from political considerations and duality of standards,” stated the Chair’s assertion following the conclusion of the occasion.

Notably, China has blocked as many as 5 proposals from India and the US to listing Lashkar-e-Toiba (LeT) and Jaish-e-Mohammed (JeM) operatives as terrorists below the UN listing. These embody LeT chief Hafiz Saeed’s son Talha, LeT operative Shahid Mahmood, 26/11 accused Sajid Mir, Jamaat-ud-Dawa chief Abdul Rehman Makki and JeM chief Masood Azhar’s brother Abdul Rauf Azhar.

The assertion stood out for increasing the considerations over terrorism past transnational teams such because the Islamic State (IS) and Al Qaeda, and flagging the existence of protected havens – two pet considerations of India. In the final two conferences — at Paris in 2018 and Melbourne in 2019 — the statements significantly talked about IS and Al Qaeda as prime threats and didn’t contact the problems of cross-border terrorism within the Indian subcontinent.

Saturday’s assertion skipped the point out of any terror group specifically. “Reaffirmed that the actions to counter terrorism and its financing should be collective and unified, without exceptions on any ground and recommitted to a zero-tolerance approach to terrorism,” it stated.

According to the assertion, the convention mentioned world tendencies in terrorism and terror financing, use of official and unofficial channels within the financing of terrorism, use of recent and rising applied sciences for terrorism financing and the necessity for additional strengthening worldwide cooperation to handle challenges in combating it.

The convention underlined that chance for terrorist entities to entry protected havens continues to be a big concern and “that all States must cooperate fully in the fight against terrorism in order to identify safe havens and deny access to terrorist entities. States should endeavour to bring to justice, in accordance with domestic and international law, any person who supports, facilitates, provides safe haven, participates or attempts to participate in the financing, planning, preparation or commission of terrorist acts”.

Building on considerations raised in previous conferences over using rising applied sciences by terror teams for the technology of funds and proliferation of terrorist content material, the assertion stated the convention emphasised that States ought to contemplate and assess terror financing dangers related to particular merchandise and channels used for monetary transactions.

These it stated included “hawala, cash, MVTS (Money or Value Transfer Services), banking remittances, cards, virtual assets, use of DarkNet, barter systems, trade-based transfers, commercial entities, non-profit organisations, DNFBPs (Designated Non-Financial Businesses and Professions), new financial instruments and unmanned aerial systems used to transport material, explosives, narcotics, weapons or ammunition. States should design preventive measures, legislation and forward-looking technological solutions to counter these threats.”

The convention additionally “stressed that States should consider and assess risks related to financing of radicalization, an essential attribute of terrorism, and affirm to take measures to counter such radicalization, in consonance with domestic and international law”.

The assertion additionally stood aside from the earlier two conferences in together with “biological, chemical and nuclear technologies” amongst “emerging technologies” to give attention to, and the necessity to stop using new tech in “recruitment and incitement to commit terrorist acts”.

Like earlier conferences, the third NMFT convention additionally referred to as for partnerships with the personal sector, tech corporations and civil society for countering terror financing.

The convention “encouraged…financial intelligence units and intelligence services, to continue to establish effective partnerships with the private sector, including financial institutions, financial technology industry and internet and social media companies, with regard to the evolution of trends, sources and methods of the financing of terrorism” even because it “underscored the importance of a Whole-of-Government and Whole-of-Society approach, whereby cooperation in countering terrorism and its financing between all relevant stakeholders, including the Executive, the Legislature, the Judiciary, civil society and private sector, is ensured”.